Forex Videos

Iran and the world powers have come to an agreement to curtail Iran's nuclear ambitions. As a result sanctions will be lifted and Iran will export oil again. Iran has the world's 4th largest crude oil reserves. As Foreign Policy notes this is good for oil companies and bad for Russia. More oil from Iran to drive the Ruble downward. The nuclear deal with Iran will add new player to global energy market. Bloomberg reports that the oil drop offsets positive news on a Greek bailout and drives the Ruble downward. The Ruble weakened for 1st time in 3 days as declining prices for crude which is Russia's main export has offset the investor optimism after Greece reacheda deal with creditors. For Russia the strength of Ruble is based on oiland gas prices. The other factor for Russia is sanctions for annexing Crimea. Iran may be hoping to claim back its share of Asia's oil market with the nuclear accord signed this week. And Russia is not the only nation that has cut into Iran's traditional customer base. Iran need to upgrade infrastructure before it drives the Ruble further downward.